China CITIC Bank (OTCMKTS:CHCJY) Shares Gap Up – Still a Buy?

Shares of China CITIC Bank Corporation Limited (OTCMKTS:CHCJY) gapped up before the market opened on Friday . The stock had previously closed at $20.00, but opened at $20.90. China CITIC Bank shares last traded at $20.90, with a volume of 240 shares changing hands.

Wall Street Analyst Weigh In

Separately, Zacks Research lowered China CITIC Bank from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 8th. One research analyst has rated the stock with a Hold rating, According to MarketBeat, China CITIC Bank has an average rating of “Hold”.

China CITIC Bank Stock Performance

The company has a 50-day moving average price of $19.10 and a two-hundred day moving average price of $19.46. The stock has a market capitalization of $51.14 billion, a P/E ratio of 6.06 and a beta of 0.31. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 1.27.

China CITIC Bank (OTCMKTS:CHCJY) last released its quarterly earnings data on Wednesday, August 26th. The company reported $0.79 EPS for the quarter. China CITIC Bank had a net margin of 20.81% and a return on equity of 8.54%. The company had revenue of $8.19 billion during the quarter, compared to analyst estimates of $8.27 billion. Equities analysts expect that China CITIC Bank Corporation Limited will post 3.88 earnings per share for the current year.

China CITIC Bank Company Profile

China CITIC Bank Corporation Limited is a commercial bank headquartered in Beijing and a subsidiary of China CITIC Group Corporation. Established in 1987, it serves corporate, institutional and individual customers through a broad range of banking and financial services.

The bank’s business includes corporate lending, trade finance, settlement and cash-management services, investment banking, financial-market operations and asset management. For retail customers, China CITIC Bank provides deposits, consumer and residential loans, credit cards, wealth-management products, payments and other personal banking services.

China CITIC Bank operates throughout mainland China through its branch and service network and also maintains an international presence, including operations serving customers in Hong Kong and other overseas markets.